BC 2009 02 02 Work Session - Laserfiche WebLink

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February 2, 2009 (Work Session) Page 1230 following: this transfer request is to move $900,000.00 from the Cabarrus County Schools ADM Public School Building Fund to the School Technology Fund for the purchase of new technology such as computers and smart boards; this request is generally made every year; CCS requested $1 million in November 2008; over the past 5 years, CCS has requested $9.8 million of their funding for technology purposes; etc. UPON MOTION of Commissioner Poole, seconded by Vice Chairman Mynatt and unanimously carried, the Board voted to place the Cabarrus County Public School Building Capital Fund Transfer Request on the February 16, 2009 Agenda as a Consent item. Hinance - Kannapolis Public School Buildin Capital E1ind Transfer Recxueat Susan Fearrington, Assistant Finance Director, presented a request for the Kannapolis Public School Building Capital Fund Transfer Request. She stated the request is to transfer $250,000.00 to the School Technology Fund and that Kannapolis has requested approximately $1 million over the past five years. UPON MOTION of Vice Chairman Mynatt, seconded by Commissioner Privette and unanimously carried, the Board voted to place the Kannapolis Public School Building Capital Fund Transfer Request on the February 16, 2009 Agenda as a Consent item. Pam Dubois, Deputy County Manager, presented a request for Installment Financing Contracts (G.S. 160A-20) for acquiring real property, construction and equipping new public school facilities and expanding and renovating existing public school facilities and various real and personal priority improvements not to exceed $130 million. She stated this financing is for the construction of the following new school facilities: two middle schools, two elementary schools and one elementary addition for Cabarrus County Schools and the A.L. Brown addition and renovation for Kannapolis. She further stated: the financing will not exceed $130 million; a required public hearing is needed on February 16, 2009; the Board approved the resolution in January; and the financing will occur in May or June. UPON MOTION of Vice Chairman Mynatt, seconded by Commissioner Privette and unanimously carried, the Board voted to place Installment Financing Contracts (G.S. 160A-20) for Acquiring Real Property, Construction and Equipping New Public.School Facilities and Expanding and Renovating Existing Public School Facilities and Various Real and Personal Priority Improvements Not to Exceed $130,000,000.00 on the February 16, 2009 Agenda as a New Business item. By the same vote, the Board also scheduled a public hearing for 6:30 p-. m. Pam Dubois, Deputy County Manager, presented a request for a public hearing for refinancing of prior installment financing contracts of various public projects (G.S. 160A-20) in an aggregate principal amount of up to $60 million. She stated this refinancing will allow the County to realize savings on interest expense over the current life of the debt; the debt life will not be extended; and approval from the LGC (Local Government Commission) is required. UPON MOTION of Commissioner Privette, seconded by Vice Chairman Mynatt and unanimously carried, the Board voted to place Refinancing of Prior Installment FinancingCOntracts of Various Public Projects (G.S. 160A-20) in an Aggregate Principal Amount of Up to $60 Million on the February 16, 2009 Agenda as a New Business item. By the same vote, the Board also scheduled a public hearing for 6:30 p.m. Parks Department - Proposal to Reduce Dav Camp Program Faea Londa Strong, Parks Director, presented a proposal to reduce Day Camp Program Fees. She reported the following: summer day camp is one of the more expensive programs offered by the Parks Department; an average of 50 to